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Grand Island

Current Mortgage Rates in Grand Island, Nebraska

Compare mortgage rates and fees for leading lenders in Grand Island, NE. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Grand Island.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Grand Island. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Grand Island, NE as of October 22, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Grand Island, NE Mortgage Rates Compare?

October 22, 2019

The current average rate for a 30 year fixed rate mortgage in Grand Island is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Grand Island, NE Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Grand Island, Nebraska?

The median home value for Grand Island, NE (Hall County) is $150,150

The median household income for Grand Island, NE (Hall County) is $55,452

Based on current mortgage rates and a 10% down payment, you need to make $27,858 per year to buy the median priced home in Grand Island

The home price you can afford to buy based on household income in Grand Island is 199% of the median home value which means housing prices are average

Grand Island (Hall County) ranks 88 out of 93 counties in Nebraska and 1,607 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Grand Island, NE is average

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Loan Limits for Grand Island, Nebraska

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Grand Island (Hall County) below.

Conforming loan limits for Grand Island, NE

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Grand Island, NE

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Grand Island, NE

1 unit: $484,350

Additional Mortgage Resources for Grand Island, NE Residents

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Papillion Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index